Various types of canes are known in the prior art. However, what has been needed is a cane having a curved handle, a shaft, a hollow inner casing, a U-shaped outer casing, an aperture continuously disposed from a top surface of the handle to an internal surface of the inner casing, an activation control disposed within a top side of the aperture, a rod continuously disposed within the aperture, a locking mechanism, an internal tension spring, a horizontal plate disposed within the inner casing, a ferrule, a plurality of openings, a plurality of spikes, and a plunger. What has been further needed is for the activation control to engage the rod. Lastly, what has been needed is for the activation control to slidingly engage the spring, the locking mechanism, the rod, the plunger, the plate, and the plurality of spikes when the activation control is in a depressed position, or alternately an extended position. The plurality of spikes is configured to extend below the ferrule base edge when the activation control is in the depressed position. One of each of the plurality of spikes is configured to be fully disposed within one of each of the openings when the activation control is in the extended position. Thus, the cane with extendable spikes provides a user with optimal stability on slippery surfaces in order to prevent injuries and falls. Rather than require a user to install a separate traction device on his or her cane, the cane with extendable spikes allows a user to easily adjust the cane depending on the surface conditions.